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176 Concord Street, P.O. Box 22287, Charleston, SC 29413-2287
Contact: Erin Dhand, Manager, Corporate Communications and Community Affairs
Telephone: 843-577-8121 • Fax: 843-577-8127 • e-mail: EDhand@scspa.com


FOR IMMEDIATE RELEASE
2/14/2001

SPA Starts New Terminal Process, Invites Private Investors

The South Carolina State Ports Authority today announced that it would begin developing a compromise plan for port expansion on the Cooper River side of Daniel Island, while withdrawing the existing permit application for the Global Gateway Terminal.

"Although today is the last day of the Global Gateway Terminal proposal, it is day one for the compromise proposal," said Edgar A. Buck, SCSPA Board chairman. "We have heard the concerns of the community and have shown our willingness to seek common ground. The Ports Authority will aggressively pursue this new plan that addresses community concerns while allowing our port to grow."

The SCSPA Board unanimously approved a resolution saying the Cooper River side of Daniel Island is the best location for future port expansion. The resolution also said that the existing permit application for the Global Gateway Terminal will be withdrawn, and a new plan will be developed based on response from the private sector.

Chairman Buck said that concerns over the size and scope of the original proposal would be addressed by the new project, which would be roughly one-half of the initial project. The original plan encompassed 800 acres of development on the SCSPA's 1,300-acre tract, land that is made up of former dredge disposal sites on Daniel Island.

"We are reaching a critical point in the port expansion process," said Bernard S. Groseclose Jr., president and CEO of the SCSPA. "It is vitally important that we move forward decisively on this compromise to realize new terminal capacity in advance of the 2006-2008 time frame when capacity is approached."

The SCSPA also approved management's recommendation to issue a formal request for proposals to private shipping line and terminal operating companies. While the SCSPA has had informal discussions with marine terminal operators and ocean carriers, this is the first formal request for the terminal on Daniel Island.

The Ports Authority also today released the findings of a detailed traffic study relating to port expansion on Daniel Island. For more information on this study, please contact Byron Miller at 843-577-8197.